Operation of Schedule
4 Operation of Schedule
The operation of this Schedule is not to be regarded:
as a breach of contract or confidence or otherwise as a civil wrong; or
as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities; or
as giving rise to any remedy by a party to a legal instrument, or as causing or permitting the termination of any legal instrument, because of a change in the beneficial or legal ownership of any asset or liability.
The operation of this Schedule is not to be regarded as an event of default under any contract or other legal instrument.
No attornment to the transferee by a lessee from the transferor is required.
The operation of this Schedule includes the enactment or making of a transfer instrument to which this Schedule applies.
The operation of this Schedule also includes the making of a declaration under subsection 18(1) (see subsection 18(5)).
In this clause:
legal instrument means an instrument (other than this Act or a corresponding law) that creates, modifies or extinguishes rights or liabilities (or would do so if lodged, filed or registered in accordance with any law), and includes any judgment, order or process of a court.
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